Privilege Working Group
|
The Privilege Working Group has finalized the
Privilege Model and completed its final report.
The
report outlines the process followed in developing the
model, presents the rationale behind privilege and whistle
blower protection and summarizes stakeholder consultations.
Stakeholder
contributions to the model played a critical role in
completing this project.
Implementation of the model requires
legislative changes in most jurisdictions which is a
decision that rests solely with each jurisdiction’s
government.
The final model and report are to be posted
on the CCIR website later this spring. |
|
Incidental Selling of Insurance (ISI) Working
Group |
The ISI Working Group updated CCIR on the ongoing
stakeholder consultation on Incidental Selling of Insurance
and comments received to date from face-to-face meetings
with some stakeholders that were held in Toronto in March.
The ISI consultation paper is available on
the CCIR website. The consultation period ends April 28th.
All interested parties are encouraged to make submissions.
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|
Risk-based Market Conduct Regulation (RbMCR) Committee |
The RbMCR Committee presented the results of stakeholder
responses to its consultation paper An Approach to
Risk-based Market Conduct Regulation. The Committee will
prepare a general response to industry for the CCIR website
and will provide written responses to the submissions, with
in-person meetings as necessary.
CCIR approved the use of the Approach
paper as a framework for risk-based regulation. Regulators
will continue to develop risk-based market conduct
regulatory tools and practices for use in their individual
jurisdictions and share them with CCIR. |
|
Industry Practices Review Committee (IPRC) |
The
IPRC has been conducting an implementation review of
insurers and intermediaries to confirm the extent to which
the principles for managing potential conflicts of interest
have been embraced by industry and to assess whether further
regulatory action is required.
Surveys of
insurance agents and the insurance companies have been
concluded and CCIR has approved an extension of the
committee’s mandate to the Fall 2008 CCIR meeting to allow
for finalization of recommendations arising from
a review of the
results. |
Regulatory
Collaboration Committee
Business in Canada – changes to federal ICA Part XIII |
The federal
regulation of foreign insurers doing business in Canada will
change significantly as a result of amendments to Part XIII
of the federal Insurance Companies Act that are now slated
to come into force Jan 1, 2010.
The new
Regulatory Collaboration Committee, made up of both
provincial and federal regulators, will be discussing the
potential effects of the Part XIII changes on provincial
insurance regulation. The Committee will work with industry
stakeholders and CCIR members to develop responses,
resolutions and recommendations to deal with the issues. |
|
Industry Presentations |
The CCIR would like thank the industry organizations - CAFII,
CLHIA, IBC, Assuris, and Advocis - who made presentations at
this meeting.
The presentations were uniformly interesting
and useful. CCIR always looks forward to hearing from the
industry at its Spring meetings. |
|
Next Meeting |
The Fall 2008 CCIR meeting will be held on Sept 24-25
in Yellowknife, NWT |